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Tuesday, December 11, 2012

The Dow Jones and Stock Market were higher on Tuesday. Will the stock market go up or down on Wednesday? Keep tabs on the stock market futures which will predict the open on Wednesday. If you are a stock trader or investor, check out my stock picks group. We are making some big trades in there right now. Sign in and sign up.

The Dow Jones Industrial Average closed at 13249on 12/11/12, as the stock market rallied but dropped in the afternoon. Apple (AAPL) was a big winner today but the stock fail at resistance located near $550. All eyes are still on Washington as we await a fiscal cliff deal.

Shares of Apple (AAPL) rallied back to $550 on Tuesday. Apple (AAPL) will have support around $538 and $530. Resistance is located at $555.20 as well as $569.50. Apple (AAPL) is dropping due to fiscal cliff selling, the fundamentals of the company are the best ever.

In my opinion, you can throw all the bad news you want at Apple (AAPL) but the stock is trading at just 12 times trailing earnings and 9.5 times 2013 earnings. Wall St is now pricing AAPL at an insanely cheap valuation. The company pays a 2% dividend and has $122 billion in cash. Buy with confidence below $550. Apple (AAPL) is not the next RCA or Sony, Apple has an ecosystem of quality products and services that people love and will continue to buy. The Apple TV will be the icing on the cake and the company will continue to be laser focused on innovation in 2013. Their patent activity underscores this!

Below is a list of stocks to buy on Wednesday. These stocks are active and have the potential to break out this week.

BG Medicine, Inc. (BGMD) - BG Medicine, Inc. (BGMD) was the top momentum stock on Tuesday after the company released news. BGMD will have support down between $2.20-$2.50, I wouldn't be chasing way up in the $3's and $4's.

Apple (AAPL) - Apple (AAPL) stock surged 3% on Tuesday after a bullish Morgan Stanley note out to clients regarding the huge potential of Apple TV in 2013. The stock is a casino right now due the fiscal cliff. Buy the big dips, sell the rallies and keep some for the long term.

CombiMatrix Corporation (CBMX) - Shares of CombiMatrix Corporation (CBMX) are now dropping after the blow off top in the $14's. CBMX is a buy for a trade below $8.

Chipotle Mexican Grill (CMG) - Chipotle Mexican Grill (CMG) is trading back above it's 50 day moving average and could be getting ready to break out. Resistance is located at $278.10.